Peter Schiff is very bearish on the bailouts and government intervention

[rhombus]

He says this recession is here to stay for years, and ironically, this is badly needed to right the economic ship.

http://www.youtube.com/watch?v=pGHODRNJqRo




The man who predicted the housing bubble, credit crisis, and our deepening recession. http://en.wikipedia.org/wiki/Peter_Schiff

http://www.youtube.com/watch?v=2I0QN-FYkpw

[sf_331]

1. Jobs Jobs Jobs

Tightening Credit, Jobs being lost every month, Housing Crisis, and Automakers in trouble..

None of the above have been solved yet..

This will be at least a 2-4 year stagnant economy..

[GarbagemanLB]

2. I saw him on CNN a few nights ago saying he didn't care if 2+ million people lost their

jobs due to the government refusing to bail-out the big three.

You'll have to excuse me when I disagree with him that losing 2 million jobs is 'necessary' at this point.

[Waiting For Everyman]

3. Notice his last name. One of the banking Schiffs? nt

[Alhena]

4. He's lost a huge amount of money for his clients this year ...

yes, he was right about the crash, but he stupidly thought that other countries would be fine. His investment strategy is to invest in high dividend Asian stocks that will supposedly pay off as the dollars crashes. The only problem is that the Asian stock markets are down even more than the US stock market and the dollar has gotten stronger, not weaker, this year. So his clients have done worse than if they just had their money on Wall Street.

[Uzybone]

5. The Ron Paul advisor??

The recession is here for a few years, thats not really news.

Paul Krugman also predicted all of the above, and he didn't endorse a racist like Ron Paul.